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Do I need to file my IT returns when I have loss or no Profit?

Discussion in 'Traders Coffee Shop' started by shabbir, Jan 27, 2013.

  1. shabbir

    shabbir Administrator Staff Member

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    In the last quarter of fiscal when we approach the month of March, questions related to taxation hit my inbox quite often and one of the very common question is - Do I need to file my IT returns when I am in loss for my portfolio? [​IMG]


    http://shabbir.in/it-returns-loss/
     
    shabbir, Jan 27, 2013
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  2. srspriya06

    srspriya06 Active Member

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    Need to file my IT returns?

    Hi Shabbir

    "Do I need to file my IT returns" This article is very useful for the novice like me...I'm an entrant in share market on 2011. My investment and Trading both together doesnt exceed 2 lakhs.. . So far i didnt make much profit ..Do i want to file my IT returns???
     
    srspriya06, Jan 28, 2013
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  3. shabbir

    shabbir Administrator Staff Member

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    Yes always because if you don't file your returns and then if you make big profits in some years then you will not save tax for your losses.
     
    shabbir, Jan 28, 2013
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  4. srspriya06

    srspriya06 Active Member

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    ok :) Thank you so much shabbir for posting such an important information:)
     
    srspriya06, Jan 28, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Jan 28, 2013
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